Q & A Database
The GIPS Standards Q&A database contains questions and answers (Q&As) on various searchable topics that provide additional interpretation on an issue. Q&As are considered to be authoritative guidance and must be followed in order to claim compliance with the GIPS standards.
Content from prior Q&As was included in the GIPS Standards Handbook as much as possible and many Q&As were archived. Change the Status drop-down filter to "Archived" to see the archived Q&As.
The GIPS Standards Helpdesk is available for individual questions and typically responds to inquiries within 3 business days.
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ArchivedEffective: 1 November, 2012 - 31 December, 2019Categories: Effective Dates, Wrap Fee PortfoliosSource: GIPS Handbook, 3rd Edition
Our firm currently manages wrap fee/SMA accounts. We will not be able to comply with the GIPS standards for SMA portfolios as of 1 January 2006. We believe we will be able to comply with the GIPS standards for our SMA portfolios as of 1 January 2008. Can we begin to claim compliance with GIPS for our SMA portfolios as of 1 January 2008?
Firms that manage wrap fee/SMA portfolios and wish to claim compliance with the GIPS standards must comply with the GIPS standards for periods beginning on or after 1 January 2006, at a minimum. If the firm is not able to claim compliance as of this date, the firm must wait until it has a minimum five-year track record that complies with all the requirements of the GIPS standards before claiming compliance.
Please also see original Q&A